WEC Energy Group Inc (WEC)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	15,366,900	14,655,700	13,472,400	11,672,800	11,171,400
Total stockholders’ equity	US$ in thousands	11,754,600	11,407,300	10,943,600	10,500,100	10,143,800
Debt-to-capital ratio		0.57	0.56	0.55	0.53	0.52

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $15,366,900K ÷ ($15,366,900K + $11,754,600K)
= 0.57

The debt-to-capital ratio of WEC Energy Group Inc has been steadily increasing over the past five years, from 0.56 in 2019 to 0.62 in 2023. This indicates that the company has been relying more on debt to finance its operations and investments compared to its total capital structure. A rising trend in the debt-to-capital ratio may suggest an increasing financial risk for the company, as higher levels of debt could lead to higher interest expenses and potential liquidity challenges in the future. It is important for investors and stakeholders to monitor this ratio closely to assess the company's financial health and stability in the long run.